SpaceX (NASDAQ:SPCX) Stock Price Up 4.8% – Still a Buy?

SpaceX (NASDAQ:SPCX) shot up 4.8% during mid-day trading on Tuesday . The company traded as high as $225.64 and last traded at $201.80. 316,238,424 shares were traded during mid-day trading, an increase of 13% from the average session volume of 278,894,938 shares. The stock had previously closed at $192.50.

More SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX announced a $60 billion all-stock acquisition of AI coding startup Cursor (Anysphere), signaling a deeper push into AI and broadening the company’s addressable market. SpaceX to acquire the AI coding startup Cursor for $60 billion
• Positive Sentiment: Options on SpaceX began trading, with record volume and strong demand for bullish contracts, which is adding fuel to the rally and could force market makers to buy more shares to hedge. Options on SpaceX shares start trading
• Positive Sentiment: Investor excitement remains intense after SpaceX’s blockbuster IPO, with the stock quickly moving above major valuation milestones and attracting leveraged ETF launches and other momentum-driven buying. What to know about Cursor, the AI coding startup SpaceX is buying for $60 billion
• Neutral Sentiment: Analysts and commentators are split, with some calling SpaceX overvalued and warning that the rally is being driven more by sentiment and technical factors than fundamentals. SpaceX’s massive $2.1 trillion valuation may soon become its own worst enemy
• Neutral Sentiment: Talk of a possible Tesla-SpaceX merger is adding speculation, but it remains unconfirmed and would likely face major regulatory scrutiny. Could a Tesla-SpaceX Merger Be Closer Than Investors Think?
• Negative Sentiment: Some investors are flagging execution risk, dilution from the all-stock deal, and the possibility that the stock’s huge early gains could cool once the initial IPO excitement fades. SpaceX (SPCX) Is Too Expensive to Chase. I’m Sitting This One Out

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SPCX. New Street Research raised shares of SpaceX to a “strong-buy” rating in a research note on Thursday, June 11th. Oppenheimer set a $190.00 price objective on shares of SpaceX and gave the stock an “outperform” rating in a research note on Thursday, June 11th. Cfra began coverage on shares of SpaceX in a research note on Friday. They issued a “sell” rating and a $115.00 price objective for the company. KGI Securities started coverage on shares of SpaceX in a research note on Thursday, June 11th. They issued an “outperform” rating for the company. Finally, Wolfe Research started coverage on SpaceX in a research note on Friday. They set an “outperform” rating and a $175.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, SpaceX has an average rating of “Buy” and a consensus price target of $161.25.

SpaceX Stock Up 4.9%

SpaceX (NASDAQ:SPCX) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($1.27) earnings per share (EPS) for the quarter. The company had revenue of $4.69 billion during the quarter.

SpaceX Company Profile

SpaceX, or Space Exploration Technologies Corp., is an American aerospace company focused on the design, manufacture and launch of advanced rockets and spacecraft. The company develops launch vehicles and space systems used for commercial, government and scientific missions, with a strong emphasis on lowering the cost of access to space through reusable rocket technology.

Founded in 2002 by Elon Musk, SpaceX has built a broad portfolio of products and services that includes the Falcon 9 and Falcon Heavy rockets, the Dragon spacecraft and the Starship development program.